Government Employees Superannuation Board (GESB) is Western Australia’s superannuation provider for public sector employees. The agency operates within the State’s policy framework, delivering public value to the State via the administration of superannuation schemes set up by State legislation. The organisation has a reputation for trustworthiness and cost efficiency in the delivery of its products and services.
“Member satisfaction with GESB’s service is the metric of success. It was recently registered at 86%,” says outgoing CEO Howard Rosario.
Over the past six years, GESB underwent a number of changes, after the State Government introduced superannuation reforms in 2012. Since Choice of Fund was introduced, WA public sector employees have been able to choose which fund their superannuation is paid into. Now, they are no longer required to have their employer contributions paid into a GESB account.
At the same time, GESB downsized from 230 employees to less than 45. The company began a tender process for the outsourcing of the its administration. In 2014, the board appointed the Link Group as provider. Of their services Howard says, “The Link Group has brought a very constructive, consultative and forward-looking partnership to GESB. It effected a seamless transition of administration services and today continues to serve GESB members cost effectively and reassuringly.”
Member satisfaction with GESB’s service is the metric of success. It was recently registered at 86%. – Howard Rosario.
GESB also wound up its financial advice arm, GESB Wealth Management. And some superannuation schemes, such as untaxed schemes West State Super and Gold State Super, are now closed to new members. The open schemes are essentially a default service provided by the State for public sector employees, and are both market linked and taxed. In future, changes to superannuation and retirement incomes policies could mean more changes to GESB as the State reassesses its position.
But, says Howard, “I believe that I have nurtured a culture and practices within GESB, which mean that no matter what happens, changes impacting the beneficiaries will be managed in an orderly and considerate way.”
Over the past 5 years, strong, mutually supportive partnerships with stakeholders and suppliers have been important to GESB. The organisation has strong engagement with its service providers, entering equitable and financially attractive agreements to ensure sustainable and best practice services. “Their reciprocation of care and consideration has delivered GESB to where it is today,” adds Howard.
Superannuation has been, is, and will continue to be, a professionally and personally rewarding place to be. – Howard Rosario
And today GESB continues to serve around 280,000 State employees and 100 State employers. Howard says working with WA public servants has reinforced his admiration of their knowledge and expertise. “They achieve things for our communities that so often go unappreciated and unrecognised. They smoothed the way for what had to be done at GESB and made it so much more feasible,” says Howard.
GESB continues to offer reliable and trustworthy solutions for their retirement, which Howard calls “a noble call to action”.
“Superannuation has been, is, and will continue to be, a professionally and personally rewarding place to be. The opportunity to serve people who entrust you with their retirement savings is amazing.”